MINORITY VIEW.

Auckland Star, Volume LXII, Issue 166, 16 July 1931, Page 7

MINORITY VIEW.

MACMILLAN REPORT.

Lord Bradbury's Contentions Supported. BANKING- AND INDUSTRY. (United P.A.—Electric Telegraph—Copjrislit) (Eeeeived 11 s_m.) LOXDOX, -July 15. In comments on tie report of the MaeMillan Committee of Finance and Industry there has been a measure of | support for the views of Lord Bradbury, the member of the committee who did not sign the report, but presented a reasoned memorandum of I dissent. Lord Bradbury's memorandum resrets that ne finds himseli In disagreement with most ot the report's conclusions. He expresses the opinion that the causes which have impeded the development of trade and industry are mainly outside the domain ot banking, finance and credit, and any report within the scope 01 the terms of reference of the MaeMillan Committee, can at best only touch the fringe of the real problems. He states that he considers it is in the beet interest of the countrv to adhere to the international gold standard as the existing parity. The banking system discharges adequately and efficiently its proper function of providing short date credit, and it is inadvisable to extend its functions, but closer touch with industry would be advantageous. ;